Loebsack visits Co-Line for loan signing
U.S. Congressman Dave Loebsack was welcomed to Co-Line for a short visit on Monday, Nov. 23. Loebsack’s stop coincided with the closing of a $2 million loan granted to Co-Line from Central Iowa Power Cooperative (CIPCO).
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Dale Brand presents U.S. Congressman Dave Loebsack with a gift during his tour of Co-Line.[/caption]
This was Loebsack’s first visit to Co-Line, and he was given a full tour of both the north and the south buildings during his limited time at Co-Line. Loebsack was invited to Co-Line by CIPCO to demonstrate rural economic monies at work and to encourage him to continue to vote for and support rural economic development through organizations and companies like the USDA, CIPCO, etc.
Loebsack was on hand to watch Co-Line owners sign on their fourth and largest rural economic development loan in the company’s 37-year history. Representatives from CIPCO and 1st State Bank were also present.
The loan was funded through USDA’s Rural Economic Development Loan and Grant program (REDL&G). CIPCO and its member cooperatives utilize these funds to promote community development and economic growth in its member systems’ service territories.
With production lines running at near capacity, Co-Line is looking down the road at future growth, with plans to build a new 120,000 square foot addition onto the company’s south building. A new paint system, several new state-of-the-art production machines, and a new 12,000 square-foot training facility are also part of the estimated $5 million three-year expansion project.
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U.S. Congressman Dave Loebsack (left) joins Central Iowa Power Cooperative’s Cheri Popp and 1st State Bank’s Steve Russell in presenting a $2 million check to Co-Line owners Faye, Dale, and Eric Brand on Nov. 23. The loan will be used for the company’s expansion project.[/caption]
Dale Brand presents U.S. Congressman Dave Loebsack with a gift during his tour of Co-Line.[/caption]
This was Loebsack’s first visit to Co-Line, and he was given a full tour of both the north and the south buildings during his limited time at Co-Line. Loebsack was invited to Co-Line by CIPCO to demonstrate rural economic monies at work and to encourage him to continue to vote for and support rural economic development through organizations and companies like the USDA, CIPCO, etc.
Loebsack was on hand to watch Co-Line owners sign on their fourth and largest rural economic development loan in the company’s 37-year history. Representatives from CIPCO and 1st State Bank were also present.
The loan was funded through USDA’s Rural Economic Development Loan and Grant program (REDL&G). CIPCO and its member cooperatives utilize these funds to promote community development and economic growth in its member systems’ service territories.
With production lines running at near capacity, Co-Line is looking down the road at future growth, with plans to build a new 120,000 square foot addition onto the company’s south building. A new paint system, several new state-of-the-art production machines, and a new 12,000 square-foot training facility are also part of the estimated $5 million three-year expansion project.
[caption id="attachment_2654" align="alignleft" width="576"] U.S. Congressman Dave Loebsack (left) joins Central Iowa Power Cooperative’s Cheri Popp and 1st State Bank’s Steve Russell in presenting a $2 million check to Co-Line owners Faye, Dale, and Eric Brand on Nov. 23. The loan will be used for the company’s expansion project.[/caption]